Chamber chiefs demand Dar’s replacement

Say minister must pay more attention to financial and tax issues.

MURREE: In the 7th All Pakistan Chambers of Commerce Presidents meeting, the participants demanded the appointment of a new finance minister that can give more attention to the financial and tax matters of the country.

The resolution was adopted at the end of the two-day conference, organised by the Rawalpindi Chamber of Commerce and Industry (RCCI), on Tuesday.

Finance Minister Ishaq Dar is mostly preoccupied with the political affairs and the issues of business community remain largely neglected, they said. However, they stressed that no one can doubt his credibility.

The business leaders also stressed the need for allocating resources to construct roads with Afghanistan besides implementing the revised Afghanistan-Pakistan Transit Trade Agreement (APTTA) for the promotion of regional trade. Regarding tax reforms, the chambers’ presidents said that the tax policy should be based on equitable and progressive taxation principles. They should focus on broadening the direct tax base.



Mashadi said that more than 50% of the population is living on less than $2 a day. “The high percentage of sales tax affects the low-income groups, therefore, it is recommended to bring down the sales tax rate to 5%.”

Published in The Express Tribune, February 12^th,  2015.

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